Rock Island daily Argus. (Rock Island, Ill.) 1886-1893, 1887-10-18
HOW TO MAKE MONEY.


Stephen v. white the Well known Wall
street Operator. on Finaneiering.
success in Wall street depends good deal
upon a mans environment II he gets into
brokers office where there are live and STIR
ring men, and he has good staying qualities,
he will probably rise from the humber du
ties of a clerk to wider field of operation.
But there are offices within a stones throw
where old fogyism prevails, and man might
as well he paving the streets for fortune as
to enter one of them There are employers
who seem to think that nobody connected
with them ought to rise. A man seeking 70
make Wall street the scene of his life work
should exercise great care and discrimination
to avuhi such men Does it require a special
aptitude to secure success in Wall streer
Well, yes; ii requires a special aptitude TO
succeed i'll any business.
Some men" he continued, faro Tim Lin
kinwaters; YOU remember Cheeryble Broth
eI,s in Dickens. Tim knew every pigeonhole
in their desks and was as familiar ami slow
rs possible. These men do not rise flight
above "a pigeonhole and they never make any
thing better than highly priced confidential
clerks who are great comfort to their EN-
ployers. That is an aptitude that has its
manifest use IN the financial world. but it is
not that that develops a mans fortunes be
yond the point OF decent living. On the
other hand, there are men who are the exact
opposite Of the Tim Lnkinwatets, men who
are all dash and bravado, who attempt big
| coup-that word | use because it expresses
| the idea better than anything | happen to
| know in the English lalguagp-such men are
| ALWAYS sure to make worse failures in the
| street than the slow, methodiCal plodderS
| Yet most outsiders, imagine, take all brokers
| for just such men. because the magnitude of
| operations is ofttimes binding and the public
cannot see the real circumstances at the back
| of them.
| "The essential difference between our bust
ness and that of any other man is that a
broker has to square his books every day and
see where he stands. A dry goods man could
fail and not find it out for months; but if a
| broker has not the capital To work with he
finds it out in double quick order. CONNER
| cial paper is of little account; he must have
| collateral
"The great point to bear in mind about
| Wall street business is this: Ii a man starts
in and wants to make fortune at once he
will barely make Il living; if he starts out
with the purpose of making living he will
end in most cases by making fortune. Ii
will take about twenty years on the aver
age"
But does not the record show that S V
White made million in one day on the &C
casIon of a certain series OF transactions il
| LarkawannaT
Mr.. White the is not a deacon at all. ll
| the wayl smiled all over his face a. he re
called that pleasant incident in his career.
That is about the figure, he admitted
''but you must bear in mind that | had beel
on the street almost twenty years at tha
time and had accumulated by conservative
management. avoiding sensational coups
enough capital to Justify the great risks
took on that Lackawanna operation. But
: sir that episode should be no false encouI
agement to Young fellows. 1t was the oppoI
, tnnity of a lifetime, and if | had been
Liuknwater 1t would have passed undeve
oped, and if | had been from the start
, plunCer ! should not have had the capital t
stand the strain 1t involved n-Louisviii
! Courier-J Journal.